DQ Entertainment restructures French arm

Raises 10 million euros for the new holding company

DQ Entertainment (International) Limited, a city-based animation, game art and entertainment company, has reorganised its French sister company Method Animation, in which it holds a 20 per cent equity stake.

Method Animation has joined with France’s Onyx Films and Chapter 2 to create ‘On Entertainment Group’, which will be the holding company for the three French subsidiary companies.

The new On Entertainment Group has revenues of euro 34 million (approximately Rs 283.22 crore) and an operating profit of euro 5.2 million.

In a filing to the BSE on Monday, DQ said On Entertainment was forecasting a rapid growth over the next five years, and had carried out a capital increase that would provide increased liquidity to the group and fund future productions.

On Entertainment had raised euro 10 million.